United States District Court for the Eastern District of Wisconsin
Donovan Searles was co-counsel actively involved in the litigation of in this securities class action. The suit alleged, among other things, that the defendants had misrepresented the net asset values of various securities held by several funds managed by Heartland Advisors, Inc. In March 2001, the SEC obtained an Order authorizing it to seize the assets of several of the funds. In July 2002, the Court finally approved a partial settlement in the principal amount of $14 million on behalf of the Class and against all defendants other than defendant PriceWaterhouseCoopers. The action is proceeding against the auditor-defendant.